Car Finance advice from Car Loan 4U

PistonHeads has partnered with Car Loan 4U to offer PHers great car finance deals for cars offered for sale within the PistonHeads classifieds. Car Loan 4U have a panel of 15 different lenders, catering for the broadest range of clients, so you can be sure they'll find you a great deal.

Their lenders finance new cars, used cars, classic cars, sports cars, kit cars, motorbikes, vans and quads. In fact, they can finance almost anything on wheels.

We spent some time with the Car Loan 4U team at their offices before agreeing our deal and one of the many reasons we chose to partner with them was the level of customer care offered in addition to an honest and personal service provided by their in-house car finance experts. Every car finance advisor is committed to making sure they find you the best deal they can. Prior to any agreement, all advisors run a free vehicle history check and if you're buying from a dealer they will ensure they are reputable too.

To date they have helped customers buy over 42,000 car ranging from Gallardos to Nissan Leafs. 97% of people who have financed cars through them would use them again. Have a read of their customer reviews here http://www.reviewcentre.com/reviews126265.html

If you are looking to finance one of our classifieds then calculate how much you might expect to pay each month and apply here.

If you have any questions about car finance through Car Loan 4U, or just in general, please feel free to ask them on this thread (even if your question relates to another finance provider). Dani from Car Loan 4U will be monitoring the threads regularly and will respond as soon as possible

[keegs111]

I stupidly contacted you for a quote once, not only was the rate you quoted twice that offered by the dealer, I spent the next 3 months getting texts and calls from finance companies who you'd sold my contact details to. I don't think PistonHEads should be associating itself with your company, I certainly only have very negative things to say about you.

[Dani from CL4U]

keegs111 said:

I stupidly contacted you for a quote once, not only was the rate you quoted twice that offered by the dealer, I spent the next 3 months getting texts and calls from finance companies who you'd sold my contact details to. I don't think PistonHEads should be associating itself with your company, I certainly only have very negative things to say about you.

I'm really disappointed to hear that! Car Loan 4U do not sell approved customers data onto any 3rd parties. So, any texts and emails that you have been receiving are not the result of any data passed to other companies by Car Loan 4U.

We have a panel of 15 lenders, who offer over 300 different loan options, with rates starting at 5.9%APR. The actual rate that we are able to offer each customer depends on individual circumstances. Many customers choose to accept car finance through us because we offered them the best deal. We also have thousands of UK dealers who recommend our service to their customers because we are able to offer the most competitive deals. If this was not the case for you then we're glad to hear you were able to obtain funding elsewhere.

[keegs111]

Dani from CL4U said:

keegs111 said:

I stupidly contacted you for a quote once, not only was the rate you quoted twice that offered by the dealer, I spent the next 3 months getting texts and calls from finance companies who you'd sold my contact details to. I don't think PistonHEads should be associating itself with your company, I certainly only have very negative things to say about you.

I'm really disappointed to hear that! Car Loan 4U do not sell approved customers data onto any 3rd parties. So, any texts and emails that you have been receiving are not the result of any data passed to other companies by Car Loan 4U.

We have a panel of 15 lenders, who offer over 300 different loan options, with rates starting at 5.9%APR. The actual rate that we are able to offer each customer depends on individual circumstances. Many customers choose to accept car finance through us because we offered them the best deal. We also have thousands of UK dealers who recommend our service to their customers because we are able to offer the most competitive deals. If this was not the case for you then we're glad to hear you were able to obtain funding elsewhere.

"do not sell approved customers data" - OK, so you do sell personal data in the event of non-approval?

[keegs111]

Additionally - The dealer did it at 3.9%

[Dani from CL4U]

keegs111 said:

"do not sell approved customers data" - OK, so you do sell personal data in the event of non-approval?

No customer data is sold. If a customer is declined we will refer that customer to one partner if our partner could help them. They will only contact the customer once and do not pass on or sell any customer data anywhere else.

We also guarantee to fully remove any customer's details from our database within 48 hours if they send an email request to [e-mail].

[Dani from CL4U]

keegs111 said:

Additionally - The dealer did it at 3.9%

I hope you don't mind me asking but did you buy a new or used car? Did you buy it from a main dealer?

[10 Pence Short]

Dani from CL4U said:

No customer data is sold. If a customer is declined we will refer that customer to one partner if our partner could help them.

Can you confirm you give those business referrals away for free to your partners?

[Dani from CL4U]

10 Pence Short said:

Can you confirm you give those business referrals away for free to your partners?

Yes. Basically, if a customer is declined by our main panel of lenders then we will give them the option to speak with one final lender directly if we think they can help them. No data is sold.

[SarGara]

Good to hear about the data handling. Are there any conditions imposed on the criteria of the car? For example does it have to be of a certain age to be eligible?

[Dani from CL4U]

SarGara said:

Good to hear about the data handling. Are there any conditions imposed on the criteria of the car? For example does it have to be of a certain age to be eligible?

This depends on your credit history and which of our lenders can help you. Some lenders don't impose any criteria but some do. For example, some of our lenders don't impose any age limit on the car you can buy but some lenders require a car to be less than 10 years old and one lender requires a car to be less than 6 years old.

In most cases, we do find that we are able to help customers buy their preferred car.

[Troubleatmill]

Any financial product endorsed by a celebrity or organisation is invariably more expensive that you can get by doing some homework.

Celebrity/ Organisation endorsements need to be paid for.

Edited by Troubleatmill on Saturday 22 March 07:40

[Dani from CL4U]

Troubleatmill said:

Any financial product endorsed by a celebrity or organisation is invariably more expensive that you can get by doing some homework.

Celebrity/ Organisation endorsements need to be paid for.

Edited by Troubleatmill on Saturday 22 March 07:40

We do not have a celebrity or celebrities endorsing our services. The best rates we can offer remain the same regardless of whether a customer chooses to buy a car from PistonHeads Classifieds or somewhere else. We do not charge any fees.

[woody2846]

Dani from CL4U said:

We do not charge any fees.

You charge the dealer £100.

[R6VED]

Well this isn't going very well.

[Dani from CL4U]

woody2846 said:

Dani from CL4U said:

We do not charge any fees.

You charge the dealer £100.

Hi Woody2846,

I was referring the to the fact that we don't charge customers any fees but we also don't charge dealers any fees in general either. Dealers are not automatically charged £100 by us – We have an optional Recommended Dealer scheme that is available for reputable, licensed dealerships to join in order for us to point customers in their direction after they’ve been approved for finance - http://www.carloan4u.co.uk/recommended-dealers.htm... It is not compulsory for dealers to be part of our scheme, nor are customers obliged to purchase their vehicle via a Recommended Dealer. The arrangements in place are between us and the dealership, and dealers are contractually obliged not to pass any of this fee onto customers.


Unless they are part of our recommended dealer scheme, dealers who are advertising on PistonHeads classifieds are not charged fees if PHers want to buy with finance through us. We don't charge PHers any fees for arranging finance for them. Any dealer that PHers want to buy from who aren't part of our recommended dealers scheme are not charged a fee.

Thanks,
Dani

[Dani from CL4U]

kapiteinlangzaam said:

WTF, why is PH partnering with crap like this?

Disappointing PH, poor form.

Hi Kapiteinlangzaam

I’m disappointed you feel that way to be honest because there's no reason to. Have a look at the thousands of reviews left by genuine customers on any review site, Facebook & Twitter. You’ll find that most of them are so happy with the deal we got them and the personal service we offered that they recommend us and say they’ll use us again.

http://www.facebook.com/carloan4u - Look at the "post by others" - most of them are by customers
http://www.twitter.com/carloan4u – Some examples are: https://twitter.com/jay_spinks/status/446267585940...https://twitter.com/Joseph_W_Hughes/status/4429971...
https://twitter.com/Twilight2704/status/4387861683...
http://www.trustpilot.co.uk/review/carloan4u.co.uk
http://www.reviewcentre.com/reviews126265.html

We are partnering with Pistonheads to offer PHers a quick and easy way to finance cars/bikes/vans etc that you want to buy from the classifieds. We have the biggest panel of car finance lenders in the UK meaning we can get PHers competitive deals. We complete free dealer and vehicle background checks to make sure PHers are getting a fair deal on the vehicle being bought. We extensively train our team meaning PHers will experience exceptional customer service from the moment you get in touch. These are the reasons why PistonHeads, like a number of other top UK online sellers and thousands of UK dealers, have chosen to partner with us. These are also the reasons why thousands of customers choose to accept the finance deals we offer them.

I'm monitoring this thread because we're a transparent company and are happy to answer any questions you have about our car finance service.

Thanks,
Dani

[Mr Whippy]

Sainsburys do 4.5% for loans right now which should cover 90% of purchases ok. Much better rate than your lowest rate APR too.

I'm not sure it's the most ethical approach for PH to be selling PH members who probably shouldn't have credit, to buy cars via their classifieds section.

How low can you stoop.

Dave

[alistair1234]

Mr Whippy said:

Sainsburys do 4.5% for loans right now which should cover 90% of purchases ok. Much better rate than your lowest rate APR too.

I'm not sure it's the most ethical approach for PH to be selling PH members who probably shouldn't have credit, to buy cars via their classifieds section.

How low can you stoop.

Dave

How the hell do you know which members should or shouldn't have credit?

[Dani from CL4U]

Mr Whippy said:

Sainsburys do 4.5% for loans right now which should cover 90% of purchases ok. Much better rate than your lowest rate APR too.

I'm not sure it's the most ethical approach for PH to be selling PH members who probably shouldn't have credit, to buy cars via their classifieds section.

How low can you stoop.

Dave

Hi Dave,

Sainsbury's offer personal unsecured loans not car loans. This means that the loan is against the individual and not secured against the car/vehicle being purchased. Since unsecured loans are higher risk for the lender they are very selective about who they offer loans to. If you're too young, you're not a homeowner or if you've ever missed payments on a loan or credit card then the likelihood is that you'll struggle to be accepted. Interest rates are also sometimes increased after application and the actual loan interest rates offered are usually higher. If you default on a personal loan then the risk is not limited to the car purchased and is transferred to your other assets.

Personal loans can be best for:
- People with good/excellent credit
- Homeowners
- People who want to own their car outright and don’t mind transferring the credit risk to other assets

I'm not sure what you are referring to regarding Sainsbury's loans “should cover 90% of purchases ok” since being accepted for a personal unsecured loan depends on each individual's personal circumstances.

Car Loans are Hire Purchase or Personal Contract Purchase loans. Hire Purchase and personal contract loans are secured against the car/vehicle being bought. Therefore, the risk to the lender is lower meaning that most people can be accepted. The rates offered will simply reflect personal circumstances. When you finish paying off the car loan, the car’s legally yours.

Car Loans can be best for:
- Tenants
- Homeowners with less than perfect credit
- People who want to limit the credit risk to the car
- People who are self employed

Car Loan 4U are a trusted car loans broker. Because we have the biggest panel of lenders in the UK we can find customers competitive car finance deals . Since we have car loan options available for most credit circumstances we cater for a broad range of people. When accepted, car loans can then be used to buy any car from any UK dealer (subject to any individual lender criteria). Just to confirm, PHers are not restricted to buying cars via PH classifieds.

If you want to buy a car/vehicle, consider the different financing options available to you so that you can decide which option is right for you.

Thanks,
Dani